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Argentina Held In Contempt For Debt Bypass Plan

A New York federal judge on Monday held Argentina in contempt of court for taking steps to evade his orders that bondholders who agreed to debt restructurings can only be paid if holdout hedge funds are also compensated, calling such plans illegal.

  • News Corp. To Pay $950M For Online Real Estate Co.

    News Corp. said Tuesday that it has agreed to buy online real estate network Move Inc. in an all cash deal valued at $950 million, sharing a small stake with REA Group Ltd., which is also largely owned by the media conglomerate.

  • EU Says Apple, Fiat Tax Deals Gave Unfair Advantages

    The European Commission on Tuesday told Ireland and Luxembourg that several tax rulings issued to Apple Inc. and Fiat SpA gave them unfair economic advantages, noting in Apple’s case that there appeared to be some “reverse engineering” to determine its subsidiaries’ taxable income.

  • EBay Adopts Icahn's PayPal Spinoff Plan On Its Own Terms

    EBay Inc. said Tuesday that it would spin off its cash-cow PayPal Inc. unit into a publicly traded, multibillion-dollar business all its own, an about-face for the online auction house after it doused activist investor Carl Icahn's push for the move earlier this year.

  • 10th Circ. Affirms Dow's $1B Price-Fixing Judgment

    The Tenth Circuit on Monday affirmed the jury verdict supporting a $1.06 billion judgment against Dow Chemical Corp. in a customer class action accusing the company of fixing prices on polyurethanes, finding that plenty of evidence supported the damages and that a Kansas federal court properly certified the class.

  • Flagstar To Pay $37.5M In Mortgage Servicing Settlement

    Flagstar Bank FSB has agreed to pay $37.5 million to settle allegations that it prevented borrowers from accessing foreclosure relief and modifying their mortgage loans, the U.S. Consumer Financial Protection Bureau said on Monday.